GE Shipping to buy Suezmax crude carrier

New Delhi, Aug 17: Great Eastern Shipping Company (GE Shipping) today said it has signed a contract to buy a 1,47,834 DWT, modern Suezmax crude carrier, to enhance its double hull tonnage.

The 1996 built double hull tanker is expected to join the company's fleet during the third quarter of 2006-07.

The company's decision to induct the said vessel is also with the objective of building a modern Suezmax fleet. With this delivery, the crude tonnage will stand at 15 ships aggregating 1.95 mn DWT.

The company's current fleet of 74 vessels, comprises 40 ships (31 tankers and nine drybulk carriers) aggregating 2.87 million DWT and 34 offshore vessels (two exploratory rigs, 20 OSVs, 11 harbour tugs and a construction barge).

The new building order book comprises five medium range and four LR1 product tankers (aggregating 0.51 mn DWT) and five OSVs (four AHTSVs and one PSV).

UNI